Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices

Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices


A Coca-Cola building in Zagreb, Croatia, Nov. 8, 2023.

Denis Lovrovic | AFP | Getty Images

Coca-Cola on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations.

The beverage giant also raised its full-year outlook for organic revenue.

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: 72 cents adjusted vs. 70 cents expected
  • Revenue: $11.30 billion vs. $11.01 billion expected

Coke reported first-quarter net income attributable to the company of $3.18 billion, or 74 cents per share, up from $3.11 billion, or 72 cents per share, a year earlier.

Excluding items, the beverage giant earned 72 cents per share.

Net sales rose 3% to $11.30 billion.



Source

‘F1’ is Apple’s highest-grossing theatrical film ever
Business

‘F1’ is Apple’s highest-grossing theatrical film ever

Still from Apple’s “F1.” Apple Lights out and away we go. “F1: The Movie” hasn’t even reached the checkered flag of its theatrical run, but it’s already Apple’s best film release ever. The film, distributed by Warner Bros. Discovery, zoomed past $293 million at the global box office over the weekend. This outpaced Ridley Scott’s […]

Read More
Family offices ramp up deal-making in June with bets on biotech
Business

Family offices ramp up deal-making in June with bets on biotech

Key Points After a slow spring, investment firms of the ultra-rich made 60 direct investments in June, according to Fintrx. Family offices flocked to biotech and health-care firms such as Antheia, seeking to make an impact and returns at the same time. Antheia founder Christina Smolke told CNBC’s Inside Wealth family offices’ patient capital makes […]

Read More
How Netflix keeps luring big-name directors away from the traditional box office
Business

How Netflix keeps luring big-name directors away from the traditional box office

Film directors Rian Johnson (L), Greta Gerwig (C), and Guillermo Del Toro (R) Getty Images Netflix isn’t interested in bringing movies to theaters. The company’s leaders have said they see theatrical movie releases as an “outdated” model. Yet for more than a decade, the streamer has lured in some of Hollywood’s biggest directors to make content […]

Read More